CommScope, Inc. (NYSE: CTV) and Andrew Corporation (Nasdaq: ANDW) today
announced the final merger consideration for CommScope's acquisition of
Andrew. The consideration to be paid for each outstanding share of
Andrew common stock in the merger has been determined to be $13.50 in
cash and $1.50 in CommScope common stock.
Andrew stockholders will receive, for each Andrew share, $13.50 in cash
and 0.031543 shares of CommScope common stock. This fractional share of
CommScope common stock was calculated according to the terms of the
merger agreement by dividing $1.50 by $47.554, which was the volume
weighted average of the closing sale prices for a share of CommScope
common stock over the ten consecutive trading days ending on December
24, 2007. The merger is expected to close on December 27, 2007.
CommScope (NYSE: CTV - www.commscope.com)
is a world leader in infrastructure solutions for communication
networks. Through its SYSTIMAX(R) Solutions(TM) and Uniprise(R)
Solutions brands, CommScope is the global leader in structured cabling
systems for business enterprise applications. It is also the world's
largest manufacturer of coaxial cable for Hybrid Fiber Coaxial
applications. Backed by strong research and development, CommScope
combines technical expertise and proprietary technology with global
manufacturing capability to provide customers with high-performance
wired or wireless cabling solutions.
Andrew Corporation (NASDAQ: ANDW) designs, manufactures and delivers
innovative and essential equipment and solutions for the global
communications infrastructure market. The company serves operators and
original equipment manufacturers from facilities in 35 countries. Andrew
headquartered in Westchester, Ill., is an S&P MidCap 400 company founded
This press release includes forward-looking statements that are based on
information currently available to management, management's beliefs, as
well as on a number of assumptions concerning future events.
Forward-looking statements are not a guarantee of performance and are
subject to a number of uncertainties and other factors, which could
cause the actual results to differ materially from those currently
expected. For a more detailed description of the factors that could
cause such a difference, please see Andrew and CommScope's filings with
the Securities and Exchange Commission. In providing forward-looking
statements, the company does not intend, and is not undertaking any
obligation or duty, to update these statements as a result of new
information, future events or otherwise.